Dorman Foundation
- Assets
- $879.3k
- Revenue
- $49.8k
- Investments
- $810.9k
- Employees
- 0
- Location
- Houston, TX
- Founding
- 02/2013
- Data as of
- 12/2023
- EIN
- 27-4385984
Organization Overview
Dorman Foundation is located in Houston, TX. The organization was established in 2013. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dorman Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Dorman Foundation generated $49.8k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $43.9k during the year ending 12/2023. While expenses have increased by 10.5% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SCHOLARSHIP PROGRAMSTHE FOUNDATION WILL PROVIDE A LIMITED NUMBER OF SCHOLARSHIPS TO FINANCIALLY DISADVANTAGED STUDENTS. THE SCHOLARSHIPS ARE AVAILABLE TO ASSIST WITH TUITION, ROOM AND BOARD, FEES, BOOKS AND OTHER NECESSARY COSTS OF ATTENDING AN ACCREDITED SECONDARY, POST-SECONDARY OR VOCATIONAL EDUCATIONAL INSTITUTION LOCATED WITHIN THE UNITED STATES. THE FOUNDATION IS ALSO PROVIDING SERVICES TO SCHOLARSHIP RECIPIENTS', INCLUDING DIRECTION ON SELECTING EDUCATION INSTITUTION TO BALANCE ACQUIRING DEGREE WITH RELATED COST CONSIDERATIONS, ASSISTING IN IDENTIFYING AND APPLYING FOR OTHER AVAILABLE EDUCATIONAL GRANTS AND SCHOLARSHIPS, COACHING AND MENTORING FOCUSED ON FAVORABLE POSITIONING FOR THE JOB MARKET, ASSISTANCE IN DRAFTING RESUMES AND APPLYING FOR INTERNSHIPS, AND ADVICE IN EVALUATING POTENTIAL EMPLOYMENT OPPORTUNITIES IN TARGETED CAREER PATH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendell R Dorman Sr Director | 0 | $0 | |
Wendell R Dorman Jr Chairperson, Director | 0 | $0 | |
Margaret K Dorman Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,100 |
| Interest on Savings | $0 |
| Dividends & Interest | $41,618 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$6,913 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $167 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $49,805 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $458 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2 |
| Total operating and administrative expenses | $6,445 |
| Contributions, gifts, grants paid | $37,421 |
| Total expenses and disbursements | $43,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $68,351 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $879,267 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Dorman Foundation has awarded $37,421 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
EDUCATIONAL SCHOLARSHIP PROGRAM - L PURPOSE: EDUCATIONAL SCHOLARSHIP PROGRAM | $27,424 |
EDUCATIONAL SCHOLARSHIP PROGRAM - U PURPOSE: SCHOLARSHIP - TUITION, FEES, BOOKS | $9,997 |